State-owned RailTel Corporation of India, on Thursday, fixed the price band of Rs 93-94 a share for its initial share-sale, which will open for public subscription on February 16.<\/p>\n
The initial public offer (IPO) is entirely an offer-for-sale through which government will offload 87,153,369 equity shares, amounting to 27.16 per cent stake, the company said in a statement.<\/p>\n
At the upper end of the price band, the government would raise a little over Rs 819 crore.<\/p>\n
The three-day issue would close on February 18 and the anchor investors portion would be open for subscription on February 15.<\/p>\n
The mini-ratna PSU is one of the largest neutral telecom infrastructure providers in the country owning an optic fiber network on exclusive Right of Way (RoW) along railway track.<\/p>\n
The company provides broadband telecom and multimedia network across the country.<\/p>\n
Half of the issue is reserved for qualified institutional buyers, 35 per cent for retail investors, 15 per cent for non-institutional bidders.<\/p>\n
As on June 30, 2020, its optic fiber network covers over 55,000 kms and 5677 railway stations across towns and cities in the country.<\/p>\n
ICICI Securities, IDBI Capital, SBI Capital Markets are merchant bankers to the issue.<\/p>\n
In December 2018, the cabinet had approved IPO of RailTel Corporation by diluting up to 25 per cent government stake.<\/p>\n","protected":false},"excerpt":{"rendered":"
State-owned RailTel Corporation of India, on Thursday, fixed the price band of Rs 93-94 a share for its initial share-sale, which will open for public subscription on February 16. The initial public offer (IPO) is entirely an offer-for-sale through which government will offload 87,153,369 equity shares, amounting to 27.16 per cent stake, the company said in a statement. At the upper end of the price band, the government would raise a little over Rs 819 crore. The three-day issue would close on February 18 and the anchor investors portion would be open for subscription on February 15. The mini-ratna PSU […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-798033","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=798033"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798033\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=798033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=798033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=798033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}